ICE Interest Rate Markets Hit Record Trading Volumes

Published 2 months ago via Business Wire

Euribor Futures and Options Trading at Highest Volume in Over 10 Years

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced record activity across its interest rate derivatives markets with over 190 million contracts traded in Q3 2024, surpassing the previous record set in Q1 2020.

ICE’s interest rate markets also hit record average daily volume (ADV) during the quarter with 2.9 million contracts traded, up 39% year-to-date (YTD). In the past quarter, a record 118 million Euribor futures and options traded, exceeding the last high set in 2013. Euribor is the benchmark for managing short term euro-related interest rate risk. ICE Euribor futures and options ADV is up 28% this year.

During September 2024, ADV across the interest rates complex exceeded 3.4 million contracts, surpassing the previous monthly record set in May 2010. Meanwhile, SONIA futures, the benchmark for managing U.K. interest rate risk, traded a record 14 million contracts during the month, with ADV up 59% YTD and open interest up 65% year-over-year (y/y).

“The record trading activity reflects customers utilizing ICE as the only exchange globally to offer a diverse and deeply liquid derivatives complex across European rates,” said Caterina Caramaschi, Vice President, Financial Derivatives at ICE. “As participants manage changing interest rate policy and exposure between central bank meeting dates, we are seeing heightened trading activity which is fueling liquidity.”

ICE offers customers liquid, multi-currency markets to trade interest rate benchmarks Euribor, SONIA and SARON, as well as Gilts, the benchmark for the U.K. government bond yield curve, where open interest is up 88% y/y and ADV is up 30% YTD. The latest additions to ICE’s STIRs complex are €uro Short Term Rate (€STR) futures and options, with €STR futures open interest hitting a record of over 650,600 contracts on October 22, 2024.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.

Category: EXCHANGES

ICE-CORP

Source: Intercontinental Exchange

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